Vinaconex executive appointed CEO of Thuong Dinh Footwear

Nguyen Thanh Nhon, general director of Vinaconex Trading Development JSC, has been appointed general director of Thuong Dinh Footwear JSC, the company said in a regulatory filing.

In a notice sent to the State Securities Commission and the Hanoi Stock Exchange, UPCoM-listed Thuong Dinh Footwear (GTD) stated that the company’s board appointed Nguyen Thanh Nhon as general director and Vu Thai Duong as deputy general director in charge of finance.

At the same time, Thuong Dinh Footwear relieved Dao Xuan Nghia of his role as deputy general director effective January 14. Nghia will continue to hold the title until further notice, according to a board resolution.

Nhon, born in 1978, is currently general director of Vinaconex Trading Development JSC, an independent board member of Construction Joint Stock Company No.1 (VC1), and deputy general director of Vinaconex Investment Co., Ltd as well as deputy general director of Vinaconex Real Estate Company.

These companies are key subsidiaries within the ecosystem of Vinaconex (HoSE: VCG).

Similarly, newly-appointed deputy general director Vu Thai Duong holds several senior roles at Vinaconex subsidiaries, including head of the supervisory board at Sa Pa Clean Water BOO Investment JSC, supervisory board member at Bach Thien Loc JSC and Vinaconex Dung Quat JSC, and controller at Vinaconex Invest One Member Co.

Also on January 14, Thuong Dinh Footwear’s board approved a resolution to convene an extraordinary general meeting of shareholders in 2026, scheduled for March 5 at the company’s headquarters at 277 Nguyen Trai street, in Hanoi.

The meeting will focus on the dismissal and conclusion of the 2021-2026 terms of the board of directors and supervisory board, and the election of a new board and supervisory board for the 2026-2031 term.

Change in control

The leadership reshuffle comes shortly after Thuong Dinh Footwear welcomed a new controlling shareholder.

In December 2025, the Hanoi Stock Exchange announced the results of an auction of more than 6.38 million GTD shares held by the Hanoi municipal government. The auction attracted 15 investors who registered to buy more than 39 million shares, with a starting price of VND20,500 ($0.78) per share.

The highest bid reached VND216,000 ($8.22) per share, more than 10 times the starting price. The total transaction value was nearly VND1.38 trillion dong ($52.52 million), far exceeding the estimated value of about VND131 billion ($4.99 million) based on the starting price.

The winning average price was set at VND215,999 ($8.22) per share and was allocated to two individual investors, whose identities have not been disclosed. Payment for the shares was scheduled between December 16 and December 22.

In January 2026, Thuong Dinh Footwear announced that Mai Huyen Trang had become a major shareholder after acquiring nearly 6.4 million shares, equivalent to 68.67% of the company’s charter capital. The shares were purchased at a price roughly 2.5 times higher than GTD’s market price at the time.

Prior to the transaction, Trang held no shares in Thuong Dinh Footwear. Following the deal, she gained control of the company by acquiring the entire stake previously owned by the Hanoi municipal government through the public auction.